Allianz projects mild economic growth for Africa in 2022 outlook

Allianz projects mild economic growth for Africa in 2022 outlook

Says Nigeria, South Africa, Ghana, Kenya may tweak policy rates in 2022 pressured by inflation   Africa’s economy, after recording mild growth in the year 2020 and the slowest in 2021, amid the coronavirus pandemic and slow rate of vaccinations, has been projected to grow mildly by 3.5 percent in 2022, again resulting from slow […]

Union Bank plans divestment from UK subsidiary to become fully Titan

Union Bank plans divestment from UK subsidiary to become fully Titan

Union Bank of Nigeria, one of Nigeria’s oldest banks, has dropped hints of its plans to divest its entire shareholding in Union Bank UK, its United Kingdom subsidiary. This comes as the bank continues with its assets transfer process following its acquisition by Titan Trust Bank in December 2021, which many foresee will turn the […]

BUA Foods joins SSA big coys to drive 3.1% market cap surge to $116.43bn

BUA Foods joins SSA big coys to drive 3.1% market cap surge to $116.43bn

Rules Nigeria’s consumer goods sector ahead Nestle Nigeria, with N21.7bn in market cap 7 out of 14 SSA stock markets have positive US$ returns YTD BUA Foods, newly listed on the Nigerian local bourse, made an immediate entry and has been welcomed into the top 30 largest companies across sub-Saharan Africa (SSA, excluding South Africa) […]

CrowdForce secures $3.6m to expand financial inclusion across Nigeria

CrowdForce secures $3.6m to expand financial inclusion across Nigeria

CrowdForce, a Nigerian fintech agent distribution platform, has raised a $3.6 million pre Series-A investment aimed at addressing challenges hindering financial services availability by deepening its financial service offerings to unbanked and underbanked communities. The equity and debt round was led by private equity firm, Aruwa Capital Management, with participation from HAVAÍC and AAIC.   […]

BoI’s successful €700m public Eurobond issuance sees RMB as bookrunner 

BoI's successful €700m public Eurobond issuance sees RMB as bookrunner 

The Bank of Industry (BOI) has set the pace in the international debt market as the first African national development finance institution (DFI) to issue a public Eurobond worth 700 million euros by way of the 144A/RegS Senior Note Participation Notes, irrevocably and unconditionally guaranteed by the Federal Government of Nigeria. The BoI said the […]